As part of C3.aiâs presence at the AI Frontiers conferenceâ C3.ai Group VP of Products Dr. Nikhil Krishnan delivered a talk on AI in the enterprise focused on stochastic inventory optimization.
The annual AI Frontiers conference brings together leading data scientists and practitioners who have deployed large-scale AI applications and projects. This yearâs conference in San Jose centered around data science topics such as natural-language processingâ computer visionâ deep learningâ AI in healthcare and financeâ and IoT.
Dr. Krishnanâs presentationâ âAI-Based Stochastic Supply Chain Optimizationââ described how the C3 Inventory Optimization application applies new technologies and approaches for industrial manufacturing companies to optimize inventory levelsâ improve service levelsâ and proactively manage supplier delays.
Until nowâ manufacturing companies have deployed Material Requirements Planning (MRP) software to support production planningâ and automated inventory and supplier management. Howeverâ MRP software cannot easily address the need for real-time operations; they do not readily easily accommodate multiple data sources or leverage AI/machine learning to optimize supply networks and provide visibility.
This dynamic optimization and real-time insight are what C3 Inventory Optimization provides. The application helps organizations manage real-world uncertainties including variability in demandâ supplier delivery timesâ quality issues with parts delivered by suppliersâ and production line disruptions. C3 Inventory Optimization is particularly relevant to manufacturers of sophisticated equipment that are highly configurableâ or manufacturers with a large number of SKUs. (Read a case study on a $30B global discrete manufacturer‘s use of C3 Inventory Optimization.)
âThe risk mitigation benefits and productivity gains for manufacturers taking optimization seriously are exponentialââ said Krishnan. âItâs not a case of âifâ but âwhenâ companies choose to apply AI and big data to their systems. Earlier adopters of AI-based systems will reap the rewards of getting ahead of the game.â
The 2018 AI Frontiers Conference was held Nov. 9-11 at the San Jose Convention Center.